Annuities

Turn Your Savings Into Guaranteed Retirement Income.

One of the greatest financial risks retirees face isn’t the stock market or inflation—it’s outliving your money. With people living longer than ever before, many worry about whether their savings will last through retirement.

Annuities are designed to solve that problem. At Cross-Practice Insurance, we help you use annuities to create guaranteed income streams that provide financial confidence throughout your retirement years.

What Is an Annuity?

An annuity is an insurance contract that converts your savings into a predictable stream of income. Unlike investments that fluctuate with the market, annuities transfer the risk of running out of money from you to the insurance company.

Think of it as a private pension: you contribute funds, and in return, you receive steady income—sometimes for life.

Why Consider an Annuity?

  • Guarantees income for life (you can’t outlive it)

  • Protects against market volatility during retirement

  • Complements Social Security and pensions for steady cash flow

  • Provides tax-deferred growth until you withdraw income

  • Customizable payout options for your lifestyle and goals

Types of Annuities

At Cross-Practice, we offer a wide range of annuities, each designed for different needs:

Fixed Annuities

  • Provide guaranteed interest rates for a set period.

  • Ideal for conservative savers who want stability.

Indexed Annuities

  • Growth tied to market indexes (like the S&P 500), but with downside protection.

  • Offers balance between growth potential and safety.

Immediate Annuities

  • Begin paying income almost immediately after purchase.

  • Great for those already in retirement seeking reliable cash flow.

Deferred Annuities

  • Grow over time before payments begin at a later date.

  • Useful for pre-retirees looking to build guaranteed income for the future.

How Annuities Fit Into Retirement Planning

Annuities are not investments in the traditional sense—they’re insurance against running out of money. Cross-Practice builds distribution plans that integrate annuities with your other retirement assets, considering:

  • Taxes – Strategies to minimize taxable income in retirement

  • Inflation – Ensuring your purchasing power lasts

  • Pensions & Social Security – Coordinating with other guaranteed sources

  • Estate Planning – Passing wealth efficiently to your beneficiaries

Pros and Cons of Annuities

Like any financial product, annuities have advantages and considerations.

Factors to consider:

  • Age of your spouse

  • Number and ages of children

  • Current and future income needs

  • Mortgage and other debts

  • Education funding goals

  • Whether your current assets can offset these obligations

Considerations:

  • Less liquidity (funds may be locked in for a set period)

  • Potential fees depending on the type of annuity

  • Must be carefully matched to your goals

At Cross-Practice, our role is to explain these tradeoffs clearly and design the right strategy for you.

FAQs About Annuities

Are annuities safe?

 Yes. Annuities are backed by insurance companies and regulated to protect policyholders. Fixed and indexed annuities offer guarantees.

When should I buy an annuity?

 Annuities work best for people approaching or in retirement who want guaranteed income. Deferred annuities can also help those still in their 50s or 60s.

Do annuities replace my investments?

Not at all. They complement your portfolio by adding a guaranteed income component alongside your other investments.

What happens to my money if I die early?

Many annuities offer death benefits or payout options that ensure remaining funds go to your beneficiaries.

Why Choose Cross-Practice?

Retirement planning isn’t just about money—it’s about confidence, freedom, and knowing your future is secure.

Cross-Practice helps you get there with:

  • Over 15 years of experience in life insurance and financial services

  • Licensed professionals with Series 65, 63, 7, and 24 credentials

  • Partnerships with top carriers offering a wide range of annuity solutions

  • A transparent, client-centered approach that values relationships over transactions

Take the Next Step

Retirement should be about enjoying life, not worrying about running out of money. With the right annuity strategy, you can create lasting income and peace of mind.